Intel prepping Internet TV service

Intel Corp., the world's largest maker of chips, is reportedly working on an Internet TV service. Not a lot of details about the service are available now, but since Intel owns loads of telecommunication technologies as well as some codecs and software, the chip giant has technological abilities to launch its own Internet TV service, a move that has potential to forever change the company.

Recently Intel withdrew from Google TV initiative and acquired media codecs from Real Networks, which points to the fact that the company is working on something related to media. According to the Wall Street Journal, Intel has for several months been pitching media companies on a plan to create a "virtual cable operator" that would offer U.S. TV channels nationwide over the Internet in a bundle similar to those that are sold by actual network operators.